Blog | FBC, Canada's Farm & Small Business Tax Specialist
Top Reasons Why Good Business Records Benefit Your Farm

How to Maintain Good Farm Business Records

May 16, 2018
Accurate farm business records make it easier to prepare taxes. A good bookkeeping system helps identifies the farm’s strengths, helps the business grow, and makes it easier to apply for a loan.

While there are a lot of tax benefits to being a self-employed contractor in Canada there is also a lot to understand when it comes to the ever-changing tax code.

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Cash Accounting for Farmers

Cash Accounting for Farmers

May 02, 2018

Farm businesses have special status under certain provisions of the Canadian Income Tax Act (ITA).

Along with fishing operations, farmers can use the cash method of accounting (or cash accounting) for reporting income for income tax purposes.

While there are a lot of tax benefits to being a self-employed contractor in Canada there is also a lot to understand when it comes to the ever-changing tax code.

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Tax Management Strategies for Farm Operators

Tax Management Strategies for Farm Operators

Apr 25, 2018
Effective tax management strategies for farmers means not scrambling at the end of the year for ways to reduce or defer tax bills.

While there are a lot of tax benefits to being a self-employed contractor in Canada there is also a lot to understand when it comes to the ever-changing tax code.

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Maintaining Minute Books Are a Legal Necessity for Incorporated Canadian Businesses

Why Maintaining Minute Books Are a Legal Necessity for Incorporated Canadian Businesses

Apr 18, 2018
Keeping a Minute Book is a legal requirement for all Canadian corporations. Maintaining a Minute Book can make a business more efficient and result in paying less tax.

While there are a lot of tax benefits to being a self-employed contractor in Canada there is also a lot to understand when it comes to the ever-changing tax code.

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Saskatchewan Budget Report 2018

Saskatchewan Budget Report 2018

Apr 11, 2018
On April 10, 2018, Finance Minister Donna Harpauer delivered her first budget as Finance Minister. The Finance Minister pointed to the province’s continued shift away from a reliance on natural resource revenue as a positive sign for the economy: Natural resource revenue is projected to make up 10% — or $1.48 billion — of what the province brings in.

While there are a lot of tax benefits to being a self-employed contractor in Canada there is also a lot to understand when it comes to the ever-changing tax code.

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Trans Pacific Partnership is Signed!

Trans Pacific Partnership is Signed!

Mar 26, 2018
The Comprehensive & Progressive Trans-Pacific Partnership (CPTPP) agreement (formerly the 11-member Trans-Pacific Partnership agreement, or TPP-11) was signed by its member states, including Canada, on 8 March 2018. The agreement covers a market of 495 million people with a combined GDP of CAD$13.5 trillion, or nearly 13.5% of global GDP.

While there are a lot of tax benefits to being a self-employed contractor in Canada there is also a lot to understand when it comes to the ever-changing tax code.

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What Are the Benefits of Filing Taxes Early?

What Are the Benefits of Filing Taxes Early?

Mar 14, 2018
For small businesses owners, there are a lot of benefits to filing your taxes early. FBC can tell you why.

While there are a lot of tax benefits to being a self-employed contractor in Canada there is also a lot to understand when it comes to the ever-changing tax code.

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British Columbia Budget Report 2018

Feb 21, 2018
On 20 February 2018, British Columbia Finance Minister Carole James tabled the province’s fiscal 2018–19 budget. The budget contains several tax measures affecting individuals and corporations.

While there are a lot of tax benefits to being a self-employed contractor in Canada there is also a lot to understand when it comes to the ever-changing tax code.

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Depending on how it is assessed, Canadian farm operators can reduce the municipal tax rate on their farm by 75%.

Do Canadian Farmers Need to Pay Property Taxes?

Dec 20, 2017
Depending on how it is assessed, Canadian farm operators can reduce the municipal tax rate on their farm by 75%.

While there are a lot of tax benefits to being a self-employed contractor in Canada there is also a lot to understand when it comes to the ever-changing tax code.

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Department of Finance Defines Rules on Income Sprinkling

Dec 14, 2017
Revised measures to the treatment of income sprinkling are designed to ensure that they do not affect family members who make meaningful contributions to a family business. The measures include several automatic, bright-line tests.

While there are a lot of tax benefits to being a self-employed contractor in Canada there is also a lot to understand when it comes to the ever-changing tax code.

Continue Reading
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